Savings sharing: rewarding staff for responsible decision-making

Area of Science:

• Healthcare Management
• Nursing Economics
• Organizational Behavior

Background:

• Professional nursing shortages create a competitive market, leading to increased reliance on temporary nursing staff.
• The high cost and lack of organizational continuity associated with temporary nurses impact healthcare standards.
• Existing models do not adequately empower nurses in decision-making or incentivize sound judgment.

Purpose of the Study:

• To introduce and evaluate a novel savings sharing program designed to address nursing shortages.
• To empower nurses by placing decision-making authority in their hands.
• To establish a reward system that incentivizes consistent, sound decision-making among nursing staff.

Main Methods:

• Implementation of a savings sharing program within a healthcare organization.
• Empowering nurses with greater autonomy in operational and resource-related decisions.
• Establishing a performance-based reward system tied to demonstrated sound decision-making.

Main Results:

• The savings sharing program is gaining credibility within the participating organization.
• The program aims to improve nurse retention and reduce reliance on costly temporary staff.
• Evidence suggests the program can align nurse decision-making with organizational objectives.

Conclusions:

• A savings sharing program offers a viable strategy to mitigate challenges posed by nursing shortages.
• Empowering nurses and rewarding sound decision-making can enhance organizational efficiency and standards.
• This innovative approach holds promise for improving the sustainability of the nursing workforce.